Information regarding the amount of arrearages owed by an obligor shall be reported by the Division of Child Support Services, at such intervals as it determines, to consumer reporting agencies, as that term is defined in 15 U.S.C. § 1681a(f), or be made available by the Division of Child Support Services to any consumer reporting agency upon request, subject to the following:
(1) The amount of arrearages are not less than $500.
(2) The information shall be made available only after the obligor owing the arrearages has been notified of the proposed action and given a period of 20 days to contest the accuracy of the information.
(3) A fee for furnishing the information in an amount not exceeding the actual cost thereof may be imposed on the requesting consumer reporting agency by the Division of Child Support Services.